Texans reportedly have out for Schaub’s contract extension

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The Texans could cut Matt Schaub after June 1 and the salary cap charge would only be $3.5 million, according to Pro Football Talk. An additional $7 million cap hit would apply in 2015.

If Schaub is cut, the Texans would reportedly avoid paying him $10 million in 2014.

The Texans signed Schaub to a four-year extension worth $62 million last season, following a Week 1 victory against Miami. Nearly $30 million is guaranteed.

Schaub, 32, has completed 65.5 percent of his passes this season for 1,193 yards, eight touchdowns and six interceptions, including three pick-sixes. He’s in his 10th year and is backed up by T.J. Yates and Case Keenum.